[1500 TH] p2pool: Decentralized, DoS-resistant, Hop-Proof pool

[IYFTech]

You'll be OK:

I know its been a long wait, but now it should only take about one more day to get a block.  Just FYI.

 

[smooth]

You'll be OK:

I know its been a long wait, but now it should only take about one more day to get a block.  Just FYI.

 

More like 2 days now. We're slacking.

[Littleshop]

You'll be OK:

I know its been a long wait, but now it should only take about one more day to get a block.  Just FYI.

 

More like 2 days now. We're slacking.

And now finally, a block.  1 min ago. 

[CaptEmulation]

And another one!

[h3m96]

Maybe this is a dumb question, but I've got p2pool running on Ubuntu.  I have Bitcoin-qt obviously, but why is bitcoind not installed on my system?  Where is my computer storing the blockchain?  Don't I need to install bitcoind immediately?  I'm just lookin to be as efficient as possible and I have plenty of hard drive space.   Thanks!

[roy7]

Maybe this is a dumb question, but I've got p2pool running on Ubuntu.  I have Bitcoin-qt obviously, but why is bitcoind not installed on my system?  Where is my computer storing the blockchain?  Don't I need to install bitcoind immediately?  I'm just lookin to be as efficient as possible and I have plenty of hard drive space.   Thanks!

You must have bitcoind running if p2pool is working. By default it stores stuff in ~/.bitcoin

[h3m96]

OK, I just checked again and you are right, it is installed.  That's weird, it showed it was not installed earlier, my error. 

[maqifrnswa]

OK, I just checked again and you are right, it is installed.  That's weird, it showed it was not installed earlier, my error. 

it's not installed, it's generated once you run bitcoin-qt or bitcoind.

[h3m96]

I've been mining in p2pool the last 3-4 days and I'm wondering, if anyone else has these thoughts, that maybe something is not operating as efficiently as possible.  I am looking at p2pool.info and if you look at the long list of blocks, each time miners get out of a good block, and get some % of what was expected, it goes immediately into a new block but it ends up like the one 3 days ago, at -352% expected.  Is this because of the issues around p2pool running on a computer?  Is this just part of the system or can we tweak the efficiency and if so how?  I know probably all p2pool miners are configuring/tweaking the best they can, I'm just curious why there seems to be so much mining work inefficiency.  I'm using Ubuntu and p2pool runs great.  I get a lot of "peer sent entire transaction "jerlkjerlkje" that was already received.  My stale rate right now is 17.2%, that is somewhat high isn't it, given I have an Intel Core i3-4130 CPU @ 3.40GHz x 4, and I don't use the computer for anything but p2pool and btc wallet.  I guess it's the latency issue, is that the real problem causing the inefficiency in numbers?  OR do you guys think it will balance out later?  Just curious.  I really love p2pool by the way, I think it's definitely the way to go for miners. 

[jonnybravo0311]

Wow... Is everyone jumping ship?  Hash rate is down to about 110TH/s...

[smooth]

Wow... Is everyone jumping ship?  Hash rate is down to about 110TH/s...

Pretty much. I pointed out before that 5+ days rounds are not sustainable, and we're only a few days from another ~20% difficulty jump. It is only a matter of time before we see 7+ day rounds or worse. RIP p2pool.

[roy7]

Pretty much. I pointed out before that 5+ days rounds are not sustainable, and we're only a few days from another ~20% difficulty jump. It is only a matter of time before we see 7+ day rounds or worse. RIP p2pool.

Certainly hope it dosen't work out that badly for p2pool on BTC. I'm sure it'll always have some level of popularity with other coins though. It's such a cool technology.

If we get support for multiple payout addresses (for group buys, etc) that might help get more hash power off of ghash.io and into the network.

[mdude77]

Wow... Is everyone jumping ship?  Hash rate is down to about 110TH/s...

Pretty much. I pointed out before that 5+ days rounds are not sustainable, and we're only a few days from another ~20% difficulty jump. It is only a matter of time before we see 7+ day rounds or worse. RIP p2pool.

As of now, 4/17... 12.5% increase. 

M

[smooth]

Wow... Is everyone jumping ship?  Hash rate is down to about 110TH/s...

Pretty much. I pointed out before that 5+ days rounds are not sustainable, and we're only a few days from another ~20% difficulty jump. It is only a matter of time before we see 7+ day rounds or worse. RIP p2pool.

As of now, 4/17... 12.5% increase. 

I've found this estimate to be pretty reliable, which shows 17.4% now: https://bitcoinwisdom.com/bitcoin/difficulty

Of course we will find out in a few days. Whatever it is, it won't be good for p2pool.

[h3m96]

I've been watching the pool hashrate for several days now.  On 04/09, it was at 201 TH/s, and 4/10 at 2 am CST, it was 214 TH/s.  Right now it's at 126 TH/s.   I think people are jumping ship, but won't that just create a huge variance payout for the ones left behind?  What can we do to make p2pool more efficient?  Are there any ideas?  I don't understand how it works enough to say.  I'm not giving up, I'm staying on p2pool indefinitely.   I'm thinking something else is wrong, some kind of configuration problem maybe?  The expected numbers on the block list are so high after a found block the day before.  I've tweaked latency issues on my own computer, and I get about 92% consistently to maybe 97% efficiency.  And I run nothing else but p2pool and BTC wallet. 

[-ck]

I've been watching the pool hashrate for several days now.  On 04/09, it was at 201 TH/s, and 4/10 at 2 am CST, it was 214 TH/s.  Right now it's at 126 TH/s.   I think people are jumping ship, but won't that just create a huge variance payout for the ones left behind?  What can we do to make p2pool more efficient?  Are there any ideas?  I don't understand how it works enough to say.  I'm not giving up, I'm staying on p2pool indefinitely.   I'm thinking something else is wrong, some kind of configuration problem maybe?  The expected numbers on the block list are so high after a found block the day before.  I've tweaked latency issues on my own computer, and I get about 92% consistently to maybe 97% efficiency.  And I run nothing else but p2pool and BTC wallet. 

The simple fact is that most miners are a combination of lazy, fickle, uninformed and just all round suspicious and seem to be unable to understand payout schemes, variance and luck no matter how much it's explained to them, and their care factor for things like security of the network, distributing the hashrate etc. etc. just isn't high enough to offset the fact that the primary thing they care about is profits. Then they do pseudo experiments ignoring all the things I said above and show a better payout at some random other pool for that day and they're lost for good.

[mdude77]

Wow... Is everyone jumping ship?  Hash rate is down to about 110TH/s...

Pretty much. I pointed out before that 5+ days rounds are not sustainable, and we're only a few days from another ~20% difficulty jump. It is only a matter of time before we see 7+ day rounds or worse. RIP p2pool.

As of now, 4/17... 12.5% increase. 

I've found this estimate to be pretty reliable, which shows 17.4% now: https://bitcoinwisdom.com/bitcoin/difficulty

Of course we will find out in a few days. Whatever it is, it won't be good for p2pool.

I do my own calculations using my MPoolMonitor.  Using the API from blockchain.info, I get the timestamp off of the last block before the diff changed, and the timestamp of the most recent block.  Subtract the first timestamp from the second timestamp, convert to minutes, and divide that by how many blocks have been solved.  That comes out to 8.89 minutes a block right now.  Use 10/8.89 as your ratio to get estimated next difficulty, the time of the change, and the percentage increase.  Of course don't use rounded numbers for the math, just for display.

M

[smooth]

The simple fact is that most miners are a combination of lazy, fickle, uninformed and just all round suspicious and seem to be unable to understand payout schemes, variance and luck no matter how much it's explained to them, and their care factor for things like security of the network, distributing the hashrate etc. etc. just isn't high enough to offset the fact that the primary thing they care about is profits. Then they do pseudo experiments ignoring all the things I said above and show a better payout at some random other pool for that day and they're lost for good.

What he said, especially the part I bolded.

[h3m96]

Just as an aside,  you guys may be surprised to hear this, but I was fired from my job of 10 years at a hospital last summer and I live on Bitcoin only.   I am not looking just to make a bunch of money, I am simply looking to survive.  I am done (hopefully) with working for "the man."  I'm willing to listen, learn and do what is best for p2pool - not my profits.  I just want a steady income ($1736/mo) to live on!  That honestly folks is all I want!  And some weeks it gets scary because my little payments don't amount to much.  My problem is, and the people like me out there who are mining, we end up switching back to Slush for the dependable $25-$35 payouts from say 300-500 GH/s, because I receive them fairly rapidly.   I do this out of necessity.  Anyone know of a place where I'd be better of parking my miners for a stable $1700/mo?  I'm not sure, that's why I'm on here learning & talking.  I'm in this for the long haul, my name is Marlon, so if any other serious miners out there wanna talk, I'm here!  I have one running p2pool node now and another node on a Win8 computer in the other room.  I've got 2 more miners on the way but my power bill is now about $175-$250/mo, whereas before it was rarely over $150.   So i'm paying a bit more in power, but it is manageable even with no job!  I make enough to cover the bills, but yeah I guess we are all trying mining out for different reasons.  I am not overtly suspicious of others, I just don't trust the NSA or government because they obviously hate democracy & don't care about us.  I just wanna make enough to live on here (not extra profits unless it's just a nice bonus).  So I'm here, if anyone comes up with ideas, I can implement them on my end, maybe we can do something to change some things about this situation.  Maybe we won't be able to, but I'm gonna try!! 

[smooth]

Just as an aside,  you guys may be surprised to hear this, but I was fired from my job of 10 years at a hospital last summer and I live on Bitcoin only.   I am not looking just to make a bunch of money, I am simply looking to survive.  I am done (hopefully) with working for "the man."  I'm willing to listen, learn and do what is best for p2pool - not my profits.  I just want a steady income ($1736/mo) to live on!  That honestly folks is all I want!  And some weeks it gets scary because my little payments don't amount to much.  My problem is, and the people like me out there who are mining, we end up switching back to Slush for the dependable $25-$35 payouts from say 300-500 GH/s, because I receive them fairly rapidly.   I do this out of necessity.  Anyone know of a place where I'd be better of parking my miners for a stable $1700/mo?  I'm not sure, that's why I'm on here learning & talking.  I'm in this for the long haul, my name is Marlon, so if any other serious miners out there wanna talk, I'm here!  I have one running p2pool node now and another node on a Win8 computer in the other room.  I've got 2 more miners on the way but my power bill is now about $175-$250/mo, whereas before it was rarely over $150.   So i'm paying a bit more in power, but it is manageable even with no job!  I make enough to cover the bills, but yeah I guess we are all trying mining out for different reasons.  I am not overtly suspicious of others, I just don't trust the NSA or government because they obviously hate democracy & don't care about us.  I just wanna make enough to live on here (not extra profits unless it's just a nice bonus).  So I'm here, if anyone comes up with ideas, I can implement them on my end, maybe we can do something to change some things about this situation.  Maybe we won't be able to, but I'm gonna try!! 

Assuming you have more than one miner, divide up your hash rate. Keep some of it on p2pool and get what you get, while some of it is on lower variance pools for steady payouts.